Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced Tuesday the sale of CDJ Distillery Industrial Park, a 68,560-square-foot industrial property in Finksburg.
The asset sold for $5.228 million, according to Brian C. Hosey, regional manager of the firm’s Washington office.
Bryn Merrey and John Faus, investment specialists in Marcus & Millichap’s Washington office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The listing team also secured and represented the buyer, another limited liability company.
CDJ Distillery Industrial Park is located at 2601 Emory Road in Finksburg. This multitenant property is situated on 14.8 acres near the border of Carroll and Baltimore counties.
For most of the 20th century, the property housed various distilleries that produced and barreled bourbon, rye whiskey, and grain neutral spirits. Then, it was converted into a truck terminal and storage lot in 1978. This lasted until 2001, when its seller acquired it and converted its buildings to a mixed-used, multitenant and industrially focused business community.
Today, only two of its original buildings remain, and they are surrounded by nine newer warehouses and an office building built after 1978. CDJ Distillery Industrial Park is currently 92.74% occupied.